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MELA Sciences Pops 10% on Positive Results in German Clinical Study

Shares of MELA Sciences (NASDAQ: MELA) are seeing increased strength during Monday's trading session after the company announced positive results of MelaFind.

MELA Sciences announced positive results of its study of MelaFind with German dermatologists. The study demonstrated that dermatologists who incorporated MelaFind into their biopsy decision-making process for the detection of melanoma at its earliest, most curable stages outperformed those who did not have the MelaFind information.

"The most clinically significant finding is that only 3 dermatologists in Arm 1 (those not provided with the MelaFind information) detected 90% of the melanomas on the study, compared to 22 dermatologists in Arm 2 who incorporated the MelaFind data in their decision-making process, a difference that was highly statistically significant at p < 0.00006," said Dr. Arthur Sober, Professor of Dermatology and Director of Cutaneous Melanoma Program, Harvard University, Massachusetts General Hospital.

"Importantly, among those detecting 90% or more of the melanomas specificity was virtually unaffected -- 23% for Arm 1 and 21% for Arm 2."

Monday, shares of MELA Sciences were trading up 10 percent, at about $3.50 per share.